The bankruptcy filings by Linn Energy LLC and Penn Virginia Corp. this week have brought two more potentially lucrative matters into a stable of energy-related Chapter 11 cases collected by Kirkland & Ellis.
Houston-based oil and gas producer Linn filed for bankruptcy Wednesday in Victoria, Texas, after reaching a deal with lenders to restructure its $8.3 billion debt load and obtain a $2.2 billion credit line. The Linn case is the third-largest bankruptcy filed so far this year, according to BankruptcyData.com.
